Law of Contracts
Drafting contracts requires foresighted thinking, precise formulation and a good assessment of the possible circumstances and conflicts that could arise on the part of the contract developer. Finally, contracts always become particularly relevant when there is a conflict between the contracting parties. The contract should hold provisions for this by defining the mutual rights and obligations and thus creating a framework for the legal relationship between the contracting parties.
Contracts are as different as the life circumstances they regulate. However, a good contract considers not only potential future events, but above all should create an appropriate balance of interests and be at arm's length. Therefore, it is important for the lawyer as the drafter of the contract to consider the interests of the parties as well as the content of the contract.
Normally the draft contract for a sales contract is submitted by a contractual party (buyer or seller). The other party often has a legitimate interest in having the draft contract examined and discussing its content with its legal counsel. Especially in a real estate contract, where high investments are regularly made, it is important that all parties have safety and a good feeling after the conclusion of the contract.
Special case: property developer contract
The property developer contract (Bauträgervertrag) is a special form of real estate contract. A property developer usually sells a future condominium at that time when it has not (yet) been completed. Therefore, the buyers conclude a contract for a property that is still under construction. Due to the mandatory requirements of the Property Development Contract Act (BTVG – Bauträgervertragsgesetz) this contract involves a number of special features, such as the legally provided security for the buyers.
A property development contract is therefore often more extensive than a sales contract for an existing property and also the interpretation of it is even more difficult for the parties.
Lawyer for contract review
Mag. Balazs Esztegar LL.M. attorney-at law takes over the examination of your sales contract before you sign it and advises you on the legal context when buying a property, regardless of whether it is a "normal" purchase contract for an apartment or a detached house, or whether a property developer contract is to be examined.